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What's the lifespan of a Nexus phone before you have to make the jump to another one¿ Are people still messing with the N1¿
I know for me personally as long as it doesn't break, or get lost/stolen I'll probably have this for 2 years. The software updates will hold me off and the hardware is more than enough for 2 years. Every newer phone coming out in 2013 will have similar specs as this.
With hacks people are still rocking a G1, see one of the above posters. As long as your hardware can HANDLE new software you should be fine holding on to your phone for a few years.
Like I said before though, the good thing about unlocked phones is that they hold their value very well. You might be essentially able to sell the Nexus 4 next year for 250 when the new nexus comes out and hardly pay anything for the newer model.